Litellm is an open-source library designed to simplify large language model (LLM) completion and embedding calls. By leveraging Litellm, users can easily access completion and embedding capabilities through simple implementation. With Litellm, you can streamline your coding process with features like GitHub integration, pip installation, and environment variable settings. By following the provided implementation code, you can quickly import completion and set environment variables for API keys, making it convenient to work with models like GPT-3.5 Turbo and Cohere. Overall, Litellm offers a user-friendly solution for enhancing LLM capabilities in your projects.